CALGARY, Alberta, March 14 /PRNewswire-FirstCall/ -- The following Was
Released on behalf of the Board of FEC Resources Inc, by Larry W. Youell,
President and CEO:
FEC Resources Inc (OTC Bulletin Board: FECOF; Frankfurt: FE8) ("FEC" or
"the company") is pleased to provide an operations update for its 40%
interest in MPSA148 comprising 2306 Hectares in the province of Surigao,
Mindanao, Philippines.
Additional RC drilling has been completed at Danao and Lascogon and the
company is still awaiting results. In the meantime a trenching program
consisting of three long and deep trenches has begun to test the
concentration of good gold intersections currently defined along the
southeastern portion of the Lascogon grid.
Trenching along the north of Lascogon has also begun to reveal heavily
altered andesitic and porphyritic rocks which are identical to those
currently being mined for gold in the neighbouring concession. It appears
as if the mineralised zone from the neighbouring concession extends into
the Company's joint venture tenement, and thus this area is being currently
tested with trenching and some RC drilling. Excellent assay results are
expected in this area.
Encouraging preliminary assay results from grab samples in the Nabago
area, which are to be confirmed in the coming weeks, have returned a
potential 16.8 grams per tonne of Gold along with 0.7% Lead and 1.2% Zinc.
Results indicate a mineralised target has been discovered in the area and
thus detailed geological mapping has begun. Six diamond drill holes are
planned for this area for 2007
"Good progress is being made at MPSA148. The company will be releasing
details of its forward work program at MPSA148 shortly and we are expecting
that this will yield significant resources and in turn value to our
company," commented Larry Youell, President & CEO.
FEC Resources Inc holds a diverse portfolio of Oil, Gas, Coal, Gold and
Iron Ore assets located in the Philippines through its shareholdings in
Forum Energy Plc, Lascogon Mining Corporation and Metalore Mining
Corporation. For further information email info@fecresources.com
On behalf of the Board of,
FEC Resources Inc.
"Larry W. Youell"
Larry W. Youell
President and CEO
This release contains "forward looking statements" as per Section 21E
of the US Securities and Exchange Act of 1934, as amended. Although the
Company believes that the expectations reflected in such forward looking
statements are reasonable, it can give no assurance that such expectations
will prove to have been correct. Management is currently reviewing many
options and there is no assurance that they will not make decisions other
than those now contemplated. The Company is subject to political risks and
operational risks identified in documents filed with the Securities and
Exchange Commission, including changing and depressed oil prices,
unsuccessful drilling results, change of government and political unrest in
its main area of operations
For more information please contact Larry Youell at (403) 290-1676
e-mail info@FECResources.com or visit the FEC Resources website at
http://www.FECResources.com.
SOURCE FEC Resources Inc
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Related links:
http://www.fecresources.com
CONTACT:
Larry Youell of FEC Resources Inc,
+1-403-290-1676, or info@FECResources.com
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